Thursday, January 14, 2010

Looking for more price consolidation tomorrow

We're at the point in the pattern where we should have our wave B that breaks the 15 min 34 SMA. Price should hold in the 1142-1144 area and provide a base to launch the final assault on 1160. For it to be considered broken, I would like to see 2 15 min bars with expanding range close below 1142, then we should test 1133 one last time before saying goodnight.

Remember we are in the key turing windows expecting to print a high sometime between this week and the first week of February.
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